by aarons_alive » Sat Apr 24, 2010 3:27 pm
Hi Nikolay,
What i think he might require is the option to determine an indicator for an independent timeframe, other than the one being observed. I have thought about this before as it would save monitor space when performing multiple timeframe analysis. For example, if i was looking at a 4hr chart and seen that a stochastic was oversold, then to eliminate some short term risk, i may then look at the 1hr timeframe stochastic to see if it too was oversold, again this might add some more upside confidence...finally i would wait until the 15min stochastic turns bullish from oversold levels and then start building a position, hopefully in the knowledge that I have entered at the start of the trend when risk/reward is highest.
Visually, you could compare it to aligning the individual oscillations of a slow, medium and fast plot of a moving sin wave over time; in this case the slow oscillation is 4 hr, medium is 1hr and fast is 15min. Again the problem here is screen space; 3 individual graphs take up space…and when you trade 7 instruments things get a bit silly. So, if I had the option of putting 3 stochastic indicators at the bottom of one graph(which we can already do), and had the option of changing the time parameter of each individual stochastic, ( I.e. one tracking the original 4hr time frame, one tracking the 1hr timeframe and the other for 15min) that would be optimal.